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Does Income Inequality Lead to Consumption Inequality?
Krueger, Dirk; Perri, Fabrizio - C.E.P.R. Discussion Papers - 2002
This Paper first documents the evolution of the cross-sectional income and consumption distribution in the US in the past 25 years. Using data from the Consumer Expenditure Survey we find that a rising income inequality has not been accompanied by a corresponding rise in consumption inequality....
Persistent link: https://www.econbiz.de/10005123551
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The Cross-Sectional Implications of Rising Wage Inequality in the United States
Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2004
This Paper explores the implications of the recent sharp rise in US wage inequality for welfare and the cross-sectional distributions of hours worked, consumption and earnings. From 1967 to 1996 cross-sectional dispersion of earnings increased more than wage dispersion, due to a rise in the...
Persistent link: https://www.econbiz.de/10005656181
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Income risk, macroeconomic and demographic change, and economic inequality in Japan
Yamada, Tomoaki - In: Journal of Economic Dynamics and Control 36 (2012) 1, pp. 63-84
Using an OLG model with heterogeneous households, we investigate the relationship among income risk, macroeconomic and demographic changes, and economic inequality between 1980 and 2000 in Japan. By decomposing the primary factors in earnings and consumption inequality into macroeconomic...
Persistent link: https://www.econbiz.de/10011051983
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Two Views of Inequality Over the Life-Cycle
Heathcote, Jonathan; Storesletten, Kjetil; Violante, … - C.E.P.R. Discussion Papers - 2004
Data on the life-cycle profiles of inequality in wages, earnings, hours worked and consumption contains precious information for answering questions about the ability of households to insure labor market risk and about the sources of this risk. This Paper demonstrates that the choice of whether...
Persistent link: https://www.econbiz.de/10005662083
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Financial Market Liberalisation, Wealth and Consumption
Boone, Laurence - 2001
assess the impact of financial deregulation on global wealth and on its different components (financial, housing and others) ... …
Persistent link: https://www.econbiz.de/10012444896
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House Prices and Economic Activity
Girouard, Nathalie - 2001
borrow for current consumption on the basis of their housing wealth, and the easing of borrowing constraints has often been … accompanied by sizeable withdrawal of housing equity. The analysis presented in the paper and a review of existing empirical work …
Persistent link: https://www.econbiz.de/10012446236
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Fiscal Policy, Wealth Effects and Markups
Monacelli, Tommaso; Perotti, Roberto - C.E.P.R. Discussion Papers - 2008
We document that an increase in government purchases generates a rise in consumption, the real and the product wage, and a fall in the markup. This evidence is robust across alternative empirical methodologies used to identify innovations in government spending (structural VAR vs. narrative...
Persistent link: https://www.econbiz.de/10005662286
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Monetary policy and inequality
O'Farrell, Rory; Rawdanowicz, Łukasz; Inaba, Kei-Ichiro - 2016
This paper analyses two-way interactions between monetary policy and inequality in selected advanced economies. In the context of a highly accommodative monetary stance over recent years, the analysis focuses on the effects of monetary policy on inequality over the business cycle via its impacts...
Persistent link: https://www.econbiz.de/10011577671
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Housing prices and the high Chinese saving rate puzzle
Wang, Xin; Wen, Yi - In: China Economic Review 23 (2012) 2, pp. 265-283
high saving rate to fast-rising housing prices in China. However, cross-sectional data do not show a significant … relationship between housing prices and household saving rates. This article uses a simple consumption-saving model to explain why … rising housing prices per se cannot explain China's high household saving rate. Although borrowing constraints and …
Persistent link: https://www.econbiz.de/10010875340
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Preferences for Risk in Dynamic Models with Adjustment Costs
Vereshchagina, Galina - In: Review of Economic Dynamics 17 (2014) 1, pp. 86-106
This paper characterizes the solution to a consumption/savings decision problem in which one of the consumption goods involves transaction costs. It then analyzes how such adjustment costs affect consumers' risk attitudes. Previous studies have suggested that transaction costs, by resulting in...
Persistent link: https://www.econbiz.de/10010729239